Hiroko, a single taxpayer, has wage income of $80,000. In addition, she has $5,000 in long-term capital losses, $4,000 in long-term capital gains, and $4,000 in short-term capital gains. What is Hiroko's AGI for 2015?

Question

Quizplus · Accepted Answer

Hiroko's adjusted gross income (AGI) can be calculated as follows:
Wage income = $80,000
Long-term capital losses = ($5,000)
Long-term capital gains = $4,000
Short-term capital gains = $4,000
Total income = $83,000
Therefore, Hiroko's AGI for 2015 is $83,000.

Hiroko, a Single Taxpayer, Has Wage Income of $80,000